President Obama’s visit to Alabama highlights need to regulate payday, title loan lenders

  President Obama’s visit to Alabama last week to discuss proposals to rein in predatory lenders underscores the need to regulate an industry the Southern Poverty Law Center has found traps low-income people in a crushing cycle of debt.

  The proposals from the Consumer Financial Protection Bureau include common-sense safeguards for consumers who take out payday or car title loans. Lenders would be required, for example, to determine if a borrower can actually afford to pay back a loan.

Robert Wilkerson: Swarming Christmas sharks

  You may be asking what Christmas sharks are. They are predatory lenders (payday and title loan companies) who prey on poor and low-income people. At Christmas they are trying to lure more of these unsuspecting people into their waters by offering fast, easy cash for Christmas.

Robert Wilkerson: Making the poor poorer

  "What are those men doing in my backyard?" she said, looking out her kitchen window. After watching them a few minutes, she charged out into the yard. There were three big white men out there with a wrecker that didn’t have a name on it. She yelled, "Get out of my backyard! Get out!" She had an envelope stuffed with money in her hand and said, "Here. Here’s the money. Take it and leave me alone!" The men ignored her. They didn’t say a word, and they didn’t take her money. She told them, "I got to that office one minute late yesterday, and I saw people inside. I banged and banged on the door, but nobody would come or take my money.